Lionsgate: Icahn to Sell All Remaining Shares

By

Avi Salzman

Aug. 30, 2011 4:49 p.m. ET

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By

Avi Salzman

Aug. 30, 2011 4:49 p.m. ET

Carl Icahn has been busy lately: in the previous post, we mentioned that he is now willing to pay $10.3 billion for Clorox (CLX) should his attempt to install his own directors and sell the company failed.

Then, after the market closed, Lionsgate (LGF) announced a deal that will allow Icahn to sell all of his remaining shares in the entertainment company for $7 each, or at a price about 7% below today's closing price.